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Friday, October 28, 2016

Strong GDP Insures Dec Rate Hike - If SPY $212 Fails - Buy Some Puts


One Option Trading Blog http://ift.tt/2fmYEzn Posted 9:30 AM ET - It is typical for the market to rally at the end of October and into the beginning of November. We are not seeing any buying this week and that is a warning sign. Google and Amazon were not able to provide a lift and this will embolden shorts. The SPY is one small move away from challenging major support at $212 and we need to be cautious today. The market has not been able to close above SPY $214 so I am not long any calls overnight. GDP came in at 2.9% and it insurers a …

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